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Scan for outdated or missing drivers - takes under a minuteDriver Scan →Repair Windows errors before they cause bigger problemsFix Now →On September 13, 2021, Moody’s announced a $250 million investment in BitSight at a transaction valuation of $2.4 billion. It was more than a conventional funding round: the announcement also set out a strategic partnership and BitSight’s planned acquisition of VisibleRisk, a cyber-risk ratings joint venture created by Moody’s and Team8. Moody’s expected to become BitSight’s largest shareholder, but said it would hold a minority stake after closing.
What the 2021 BitSight transaction included
Moody’s Corporation announced the investment and partnership on September 13, 2021. The terms in its transaction announcement were:
- Investment: Moody’s said it would invest $250 million in BitSight.
- Valuation: The announcement valued BitSight at $2.4 billion for the transaction. That is a 2021 figure, not evidence of the company’s present valuation.
- Ownership: Moody’s expected to become BitSight’s largest shareholder while retaining a minority stake after closing. The announcement did not describe a controlling acquisition.
- VisibleRisk: BitSight said it would acquire VisibleRisk, the cyber-risk ratings joint venture formed by Moody’s and Team8.
The announcement also reported that BitSight had more than 2,300 global customers. That was the figure Moody’s gave in 2021, not a current customer count.
Why Moody’s invested in BitSight
Moody’s said the partnership would bring BitSight’s cyber-risk data and research into Moody’s risk-assessment offerings. Its stated rationale was that organizations needed better ways to measure and quantify cyber risk alongside their investments in defense and resilience. Rob Fauber, then Moody’s president and chief executive, said: “As organizations invest in cyber defense and resilience, another critical need has emerged: the ability to accurately measure and quantify cyber risk and exposure.”
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BitSight described the deal as a way to expand its ability to measure and manage cyber risk. It said VisibleRisk would add in-depth cyber-risk assessment capabilities, including analysis of financial exposure. These were the companies’ aims at announcement; the transaction release does not establish specific later outcomes.
What BitSight does
BitSight sells cybersecurity ratings, analytics, and performance-management tools for organizations. In its September 13, 2021 announcement, the company described its Security Ratings Platform as producing daily ratings on a scale from 250 to 900. BitSight said customers could use the platform to monitor their own security performance, assess third-party risk, support cyber-insurance underwriting, conduct financial diligence, and inform national-security work.
Those details describe the product and use cases as BitSight presented them in 2021; they are not an independent assessment of rating accuracy or predictive performance.
Independent reader supportYour contribution helps us test, update, and keep practical guides available for everyone.How to read the $2.4 billion figure
The $2.4 billion amount was the valuation Moody’s attached to the 2021 transaction. It should not be read as a current valuation or as the amount Moody’s paid to buy BitSight: Moody’s announced a $250 million investment for a minority stake, alongside a partnership, while BitSight was to acquire VisibleRisk.
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